he petty cash fund of $200 for George Company appeared as follows on December 31, 2020: Cash       $59.40   Petty cash vouchers                 Delivery Expense   $27.60             Postage   40.00             Balloons for a special occasion   68.00       (b)     Prepare the general journal entry to replenish the fund. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Enter answers to 2 decimal places, e.g. 25.20.) Account Titles and Explanation Debit Credit

Q: Prepare journal entries for Crane Company for May 1, June 1, July 1, and July 10.

A:

Q: n December 1, 2021, Hazel Company established a petty cash fund of P50,000, On December 31, 2021,…

A: >Petty Cash fund is created out of cash account to pay off certain small and petty amounts of…

Q: The petty cash fund of $200 for George Company appeared as follows on December 31, 2016: Cash $59.40…

A: Petty cash represent a part of cash which the corporation held for meeting daily miscellaneous…

Q: The petty cash fund of Bianca Company on December 31, 2019 is composed of the following: Coins and…

A: Bianca Company's On 31.12.2019, Coins and currencies = P17000 Petty cash vouchers of Gasoline =…

Q: On December 1, 2021, Andi Company established a petty cash fund of P50,000. On December 31, 2021,…

A: The petty cash fund is maintained by the company for the day to day expenses of the business.

Q: Tier Company established a petty cash fund of P10,000 on July 1, 2021. At the end of the month, the…

A: The petty cash book is prepared for day to day small cash transactions of the business.

Q: In your count of petty cash fund in the morning of January 5, 2022 revealed the following: Bills…

A: Petty cash fund  P10,000 Payment:   Paid vouchers dated Dec 2021 P2,140 Paid vouchers dated…

Q: Assume that the custodian of a $465 petty cash fund has $67.50 in coins and currency plus $391.50 in…

A: The petty cash balance is maintained for day to day cash transactions of the business.

Q: ABSB established a $100 petty cash fund on January 1, 2021. On January 31, the fund had a $24 cash…

A: Petty cash or Petty cash fund is a tiny amount of money usable without writing a check to pay…

Q: On November 2, 2010 Resort established a petty cash fund of RO On November 31, 2018, the amount…

A: Answer: As we can see in the question that the opening balance in petty cash fund was RO 750 and the…

Q: You are assigned to the petty cash count for the KURDAPIA COMPANY at December 31, 2021. The contents…

A: Petty cash fund refers to the fund which is used for paying off the little or small expenses of the…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

A: 1. Date Account Titles and Explanation Debit Credit June 1, 2019 Petty Cash RO 750…

Q: cash balances:

A: In the December 31, 2019, statement of financial position, what total amount should be reported as…

Q: EFG Company established a petty cash fund of P90,000 on December 1, 2021.As of December 31, 2021,…

A: Solution:- Calculation of the cash (shortage)/overage as follows under:- Introduction:- The petty…

Q: Grand Company's fiscal year ends on June 30.   Its petty cash fund was established for an amount of…

A: Petty cash fund  P15,000 Payment:   Paid vouchers of office supplies (dated June 28, 2021)…

Q: he December 31,2020 trial balance of DDD Company includes the following accounts: Cash on hand…

A: Cash and Cash Equivalents It means that  in the balance it reflect the liquidity position in the…

Q: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

A: Note: Since you have asked multiple question, we will solve the first question for you. If you want…

Q: 1. Prepare journal entries to record the transactions. 2. How much is the petty cash on January31,…

A: A petty cash fund is a fund created to pay small expenses. No journal entry is passed for each…

Q: Willard Company established a $500 petty cash fund on September 9, 2020. On September 30, the fund…

A: Petty cash refers to the small amount of cash maintained by cashier of company in order to meet…

Q: On December 31, 2021 Mickey Mouse Corporation's trial balance includes the following accounts: Petty…

A: Cash & Cash Equivalent Cash & Cash equivalent refers to an item that is presented in the…

Q: VKS Company established a petty cash fund of P10,000 on July 1, 2021.  At the end of the month, the…

A: Solution: Total petty cash receipts = 741.90 + 880 + 900 + 1421.40  + 837.60 = 4.780.90

Q: On September 1, 2020, Walls Company establishes a petty cash fund by issuing a check for $100 to…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: The following are data of Taehyung Inc.:  The petty cash fund was established on May 2, 2019, in…

A: The journal entry to record the replenishment of and increase in petty cash fund is as under:…

Q: The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the…

A: Introduction:  The most liquid current assets on a company's balance sheet are cash and cash…

Q: The BOD of Nancy Inc. authorized the set-up of petty cash fund on December 1, 2020, with an Imprest…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: Presented below are transactions of MM Company related to petty cash for the last 2 months of year…

A: The petty cash fund is established to maintain the cash for day to day cash transactions of the…

Q: In your count of petty cash fund in the morning of January 5, 2022 revealed the following: Bills…

A: Particulars Amount Petty cash fund P10,000 Less:   Bills and coins P3,560 Paid vouchers…

Q: Willard Company established a $440 petty cash fund on September 9, 2020, On September 30, the fund…

A: A record is usually preserved in the general ledger, but it can alternatively be placed into a…

Q: A petty cash fund of 50,000 comprised of the following on June 30, 2021, the company's year- end…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: As of December 31,2020, based on a physical count conducted, the following are the items included in…

A: Cash shortage (overage) = Petty cash fund - Bills and coins - Transportation  - Supplies - Envelope…

Q: Assume that the custodian of a $450 petty cash fund has $59.50 in coins and currency plus $385.00 in…

A: About Petty cash is a little  amount of money that is keep on the company premises to pay for…

Q: Elegant Company's fiscal year ends on June 30. Its petty cash fund was established for an amount of…

A: Correct amount of petty cash fund at June 30, 2021 = Currencies + Coins + Company check representing…

Q: Willard Company established a $400 petty cash fund on September 9, 2020. On September 30, the fund…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

A: Petty cash fund: Petty cash fund is a fund established to pay insignificant amounts like postage,…

Q: 10. On December 31, 2021, the trial balance of Hello-hi Company reveals the following account…

A: "Since you have asked multiple question we will solve the first question for you.  If you want any…

Q: On June 1, 2019, Wadi Nam Furniture Company established a petty cash fund for RO 750. On June 31,…

A: Date Account Titles and Explanation Debit Credit June 1, 2019 Petty cash RO 750…

Q: Penny-Wise Pound-Fool Company established a $400 petty cash fund on September 1, 2021. The fund is…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: The following information were taken from Bach Co.: Bach established a petty cash fund on May 2,…

A: Petty Cash - It refers to the amount of money which are keeps on hand for small outflows into the…

Q: On November 2, 2018, Sur Resort established a petty cash fund of RO 750. On November 31, 2018, the…

A: Date Account Titles and Explanation Debit Credit June 1, 2019 Petty cash RO 750…

Q: Cameron Co. established a $182 petty cash fund on January 1, 2020. One week later, on January 8, the…

A: Petty Cash Fund: It is common for small businesses to keep a modest amount of money on hand (for…

Q: Grand Company's fiscal year ends on June 30.   Its petty cash fund was established for an amount of…

A: Here in this question, we are required to find out shortage or overage in the petty cash fund at…

Q: Sheridan Company established a petty cash fund on May 1, cashing a check for $100. The company…

A: Petty cash fund will be used for petty expenses.  First, we take some amount from the bank account…

Q: The petty cash fund of $200 for Ginther Company appeared as follows on December 31, 2014:   Cash…

A: Here we can find cash shortage  in petty  cash ,so it needs to replenished

Q: The petty cash fund consisted of the following items as of December 31, 2021: Currency and coins,…

A: It used in expenses like foods, postage stamp ,fare ,food expense etc.

Q: The petty cash fund was established on April 10, 2020, in the amount of $300. These are the…

A: Petty cash: Petty cash fund is established to pay small expenses like office supplies, postage etc.…

Q: Upon examination of the petty cash fund of Maverick Company on January 3, 2021, the following items…

A: Petty cash funds are those funds which are established for the purpose of small petty expenses in…

Q: On April 3, Snappy Sales decides to establish a $135 petty cash fund to relieve the burden on…

A: Person managing the Petty cash fund is called a petty cashier. There are various small expenses…

Q: CPA Company established a petty cash fund of P10,000 on July 1, 2021.  At the end of the month, the…

A: Solution: Total petty cash receipts = P741.90 + P880 +P900 + P1,421.40 + P837.60 = P4,780.90…

Q: Crown Company established a petty cash fund of $600 for incidental expenditures on January 2 , 2019…

A: Any excess expense for which the invoice is missing goes to cash short and over.

Q: The petty cash fund of $200 for George Company appeared as follows on December 31, 2016: Cash $59.40…

A: Petty cash or the petty cash fund refers to the small amount of cash on hand  which is particularly…

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.